Oasis Management Co Ltd. 4

What Happened
Oasis Management Co. Ltd., identified as a 10% owner, sold a total of 10,493 shares of Stratus Properties Inc. (STRS) in two transactions: 493 shares at $30.19 on April 22, 2026 (reported value $14,882) and 10,000 shares at $29.89 on April 24, 2026 (reported value $298,910), for combined proceeds of $313,792. These were sales (S), which are typically routine disposition of holdings rather than an indicated bullish signal.

Key Details

• Transaction dates and prices:
  • 2026-04-22: 493 shares @ $30.19 — $14,882
  • 2026-04-24: 10,000 shares @ $29.89 — $298,910
• Total shares sold: 10,493; total reported proceeds: $313,792.
• Shares owned after transaction: not disclosed in the provided filing.
• Footnotes of note:
  • F1: The reported securities are held directly by Oasis Investments II Master Fund Ltd.; Oasis Management is the investment manager and Seth Fischer supervises investment decisions for the manager.
  • F2: The reporting parties disclaim beneficial ownership except to the extent of any pecuniary interest.
• Timeliness: Reported on April 24, 2026 for a primary trade on April 22, 2026 — filing appears timely (Form 4 is generally due within two business days).

Context
This filing reflects institutional/manager trading by a 10% owner (via its managed fund), not an individual executive. Sales are common and do not necessarily indicate a change in outlook; purchases tend to be more informative about insider confidence. The filing contains manager/beneficial‑ownership disclosures (F1/F2) clarifying how the securities are held and managed.